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No, but news reports did indicate that many performing assets of Lehman's were sold immediately after the event to Barclays.

And to my knowledge, all of the Lehman's third party trust preferred issues have continued to pay their interest on time.


So? Your assumptions seem to be jumping to conclusions that are not justified. As stated before, the trusts are separately managed assets, and are not creditors of the bankruptcy estate - they are assets of the bankruptcy estate. Therefore, to keep their value as assets, they need to continue to pay their interest on time.

According to the 8-Ks, what was sold to Barclay's was the investment banking business. And at least some of the trust preferreds still file SEC reports as LBHI assets, not Barclay's assets. I see no facts in evidence to dispute that at least the 2 trust preferreds I cited (and likely many others - I just didn't want to look up a bunch of 8-Ks) are still being managed by LBHI, and not by Barclay's.

AJ
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